XML 31 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
Risk Management Activities (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Risk Management Activities [Abstract]      
Net Gains (Losses) on Mark-to-Market Commodity Derivative Contracts $ (166,349,000) $ 393,744,000 $ 626,053,000
Net Cash Received from Settlements of Commodity Derivative Contracts 116,361,000 711,479,000 180,701,000
Derivatives, Fair Value [Line Items]      
Receivable Major Customer Percentage 10.00% 26.00%  
Derivatives Assets, Current 8,260,000 166,135,000  
Derivative Liabilities, Current 127,542,000 7,617,000  
Foreign Currency Exchange Rate Derivative [Abstract]      
After-Tax Net Impact Other Comprehensive Income Increase (Decrease) From The Foreign Currency Swap 2,000,000 1,000,000 (1,000,000)
Interest Rate Derivative [Abstract]      
Interest Rate Swap, Notional Amount 350,000,000    
After-Tax Net Impact Other Comprehensive Income Increase (Decrease) From Interest Rate Swap 2,000,000 (100,000) (3,000,000)
Derivative Collateral [Abstract]      
Collateral Held on Derivative 0 6,000,000  
Collateral Had on Derivaitve 0 0  
Crude Oil and Natural Gas Derivative Contracts [Member] | Assets From Price Risk Management Activities [Member]
     
Derivatives, Fair Value [Line Items]      
Derivatives Assets, Current 8,000,000 [1] 166,000,000 [1]  
Derivative asset, gross assets 18,000,000 271,000,000  
Derivative asset, gross liabilities 10,000,000 105,000,000  
Crude Oil and Natural Gas Derivative Contracts [Member] | Liabilities From Price Risk Management Activities [Member]
     
Derivatives, Fair Value [Line Items]      
Derivative Liabilities, Current 127,000,000 [2] 8,000,000 [2]  
Derivative liabilities, gross liabilities 137,000,000 113,000,000  
Derivative liabilities, gross assets 10,000,000 105,000,000  
Crude Oil and Natural Gas Derivative Contracts [Member] | Other Liabilities [Member]
     
Derivatives, Fair Value [Line Items]      
Other Liabilities 0 [3] 13,000,000 [3]  
Derivative liabilities, gross liabilities   13,000,000  
Interest Rate Swap [Member] | Other Current Liabilities [Member]
     
Derivatives, Fair Value [Line Items]      
Derivative Liabilities, Current 1,000,000 0  
Interest Rate Swap [Member] | Other Liabilities [Member]
     
Derivatives, Fair Value [Line Items]      
Other Liabilities 0 4,000,000  
Foreign Currency Swap [Member] | Other Current Liabilities [Member]
     
Derivatives, Fair Value [Line Items]      
Derivative Liabilities, Current 40,000,000 0  
Foreign Currency Swap [Member] | Other Liabilities [Member]
     
Derivatives, Fair Value [Line Items]      
Other Liabilities $ 0 $ 55,000,000  
Crude Oil Derivative Contracts January [Member]
     
Derivative [Line Items]      
Volume (Bbld) 156,000 [4]    
Derivative Weighted Average Price Crude Oil ($/Bbl) 96.30 [4]    
Crude Oil Derivative Contracts February - March [Member]
     
Derivative [Line Items]      
Volume (Bbld) 171,000 [4]    
Derivative Weighted Average Price Crude Oil ($/Bbl) 96.35 [4]    
Notional volume of option to extend certain derivative contracts 10,000    
Crude Oil Derivative Contracts April - June Year [Member]
     
Derivative [Line Items]      
Volume (Bbld) 161,000 [4]    
Derivative Weighted Average Price Crude Oil ($/Bbl) 96.33 [4]    
Notional volume of option to extend certain derivative contracts 118,000    
Crude Oil Derivative Contracts April - December [Member]
     
Derivative [Line Items]      
Derivative Weighted Average Price Crude Oil (Options Exercised) ($/Bbl) 96.60    
Increase in notional volume if counterparties exercise all options to extend derivative contracts 10,000    
Crude Oil Derivative Contracts July - December [Member]
     
Derivative [Line Items]      
Volume (Bbld) 64,000 [4]    
Derivative Weighted Average Price Crude Oil ($/Bbl) 95.18 [4]    
Notional volume of option to extend certain derivative contracts 69,000    
Derivative Weighted Average Price Crude Oil (Options Exercised) ($/Bbl) 96.64    
Increase in notional volume if counterparties exercise all options to extend derivative contracts 118,000    
Crude Oil Derivative Contracts Year Two January - June [Member]
     
Derivative [Line Items]      
Derivative Weighted Average Price Crude Oil (Options Exercised) ($/Bbl) 95.20    
Increase in notional volume if counterparties exercise all options to extend derivative contracts 69,000    
Natural Gas Derivative Contracts January (closed) [Member]
     
Derivative [Line Items]      
Volume (MMBtud) 230,000 [5]    
Derivative Weighted Average Price Natural Gas ($/MMBtud) 4.51 [5]    
Natural Gas Derivative Contracts February - December [Member]
     
Derivative [Line Items]      
Volume (MMBtud) 205,000 [5]    
Derivative Weighted Average Price Natural Gas ($/MMBtud) 4.52 [5]    
Volumes (MMBtud) - Derivative Option Contracts 355,000 [5]    
Average Price ($/MMBtu) - Derivative Option Contracts 4.63 [5]    
[1] The current portion of Assets from Price Risk Management Activities consists of gross assets of $18 million, partially offset by gross liabilities of $10 million, at December 31, 2013 and gross assets of $271 million, partially offset by gross liabilities of $105 million at December 31, 2012.
[2] The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $137 million, partially offset by gross assets of $10 million, at December 31, 2013 and gross liabilities of $113 million, partially offset by gross assets of $105 million, at December 31, 2012.
[3] The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $13 million at December 31, 2012.
[4] EOG has entered into crude oil derivative contracts which give counterparties the option to extend certain current derivative contracts for additional six-month and nine-month periods. Options covering a notional volume of 10,000 Bbld are exercisable on or about March 31, 2014. If the counterparties exercise all such options, the notional volume of EOG's existing crude oil derivative contracts will increase by 10,000 Bbld at an average price of $96.60 per barrel for each month during the period April 1, 2014 through December 31, 2014. Options covering a notional volume of 118,000 Bbld are exercisable on or about June 30, 2014. If the counterparties exercise all such options, the notional volume of EOG's existing crude oil derivative contracts will increase by 118,000 Bbld at an average price of $96.64 per barrel for each month during the period July 1, 2014 through December 31, 2014. Options covering a notional volume of 69,000 Bbld are exercisable on or about December 31, 2014. If the counterparties exercise all such options, the notional volume of EOG's existing crude oil derivative contracts will increase by 69,000 Bbld at an average price of $95.20 per barrel for each month during the period January 1, 2015 through June 30, 2015.
[5] EOG has entered into natural gas derivative contracts which give counterparties the option of entering into derivative contracts at future dates. All such options are exercisable monthly up until the settlement date of each monthly contract. If the counterparties exercise all such options, the notional volume of EOG's existing natural gas derivative contracts will increase by 355,000 MMBtud at an average price of $4.63 per MMBtu for each month during the period February 1, 2014 through December 31, 2014.